Novo Nordisk Foundation and the Danish government have reached a principle agreement aimed at creating more space for nature and biodiversity in Denmark. Novo Nordisk Foundation has committed to contributing ten billion Danish kroner to achieve the ambitious goals set in the green tripartite agreement presented on Monday evening. This was announced by the Ministry of Economic Affairs in a press release.
The funds from Novo Nordisk Foundation will be used, among other things, for land conversion, which will benefit nature and biodiversity, as well as for modernizing the Danish agricultural production. Mads Krogsgaard Thomsen, CEO of the foundation, stated: “It is a truly ambitious nature restoration project that will make Denmark greener and have an impact on the Danish people, biodiversity, and the marine environment.”
The principle agreement entails that the specific framework for the allocation of funds has not yet been determined. These frameworks will be negotiated during the autumn. Minister of Economic Affairs Stephanie Lose (V) stated that the funds are intended to be distributed over a period of ten years. She added: “We will engage in a dialogue with Novo Nordisk Foundation in the autumn on how to ensure a good interaction between the initiatives outlined in the green tripartite agreement and the funds that the foundation has indicated they are willing to allocate.”
The green tripartite agreement reached on Monday has several key points. Among them, agriculture will be subject to a CO2 tax. From 2030, agriculture will have to pay 300 Danish kroner per ton of CO2 emissions, and the tax will increase to 750 kroner per ton in 2035. Stephanie Lose mentioned at a press conference that the agreement lays the foundation for Denmark to reach its 2030 goal of reducing greenhouse gas emissions by 70 percent.
The agreement also includes the establishment of a fund called Denmark’s Green Areal Fund, which is expected to have a capital of 40 billion Danish kroner. The government will now work to secure these funds.